Precious Metals Parity Act amends the Internal Revenue Code to treat income from precious metals as qualifying income for regulated investment.

The Precious Metals Parity Act amends the Internal Revenue Code of 1986 to include income from precious metals as qualifying income for regulated investment companies. This change modifies Section 851(b) to add precious metals, defined as gold, silver, platinum, or palladium bullion, to the list of qualifying income sources. The amendments apply to taxable years beginning after the date of enactment of this Act.

Precious Metals Parity Act amends the Internal Revenue Code to treat income from precious metals as qualifying income for regulated investment.

The Precious Metals Parity Act amends the Internal Revenue Code of 1986 to include income from precious metals as qualifying income for regulated investment companies. This change modifies Section 851(b) to add precious metals, defined as gold, silver, platinum, or palladium bullion, to the list of qualifying income sources. The amendments apply to taxable years beginning after the date of enactment of this Act.